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Pfizer to Inject $5B into U.S. Manufacturing Operations

February 1, 2018
A sign at a Pfizer facility in the United States. Image courtesy of the Montgomery County Planning Commission on Flickr
A sign at a Pfizer facility in the United States. Image courtesy of the Montgomery County Planning Commission on Flickr

Drug maker Pfizer plans to invest $5 million in capital projects that will bolster its U.S. operations, including improvements to the firm’s manufacturing footprint, the company announced in a release of its full-year results for 2017 on Jan. 30.

Company officials attributed the decision to inject capital into its American facilities to recent changes in U.S. corporate tax code signed into law by President Donald J. Trump.

“I am pleased that the aspects of most importance to us were addressed in the new tax code, strengthening our ability to make capital allocation decisions that maximize patient benefit and enhance shareholder value,” said Frank D’Amelio, executive vice president of business operations and chief financial officer at Pfizer, in a statement.

The investment will roll out over the next five years, though Pfizer did not detail exactly how it plans to use the funds.

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